February, 2017

• 1 February

  Saudi energy minister praises Trump’s pro-fossil-fuel policies

  

    Bloomberg President Donald Trump’s energy policies are good for the petroleum industry and Saudi Arabia sees no problem with growth in US oil production as long as it’s in line with demand, Saudi Energy Minister Khalid Al-Falih said. “President Trump has policies which are good for the oil industries,” Al-Falih said in an interview with the BBC. “He has ...

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• 1 February

  Hawaii aims for 100 percent renewable transportation

  

    HONOLULU / AP Hawaii has the most aggressive renewable energy targets in the nation, aiming for its utilities to get 100 percent of their electricity from renewable sources by 2045. Now advocates want to extend that goal to the transportation sector to urge all forms of ground transportation to fuel up using renewable sources by 2045. “The majority of ...

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• 1 February

  Oil trades below $53 as US stockpiles gain

  

    Bloomberg Oil traded below $53 a barrel in New York after an industry report was said to show an US crude supply gain while the dollar dropped. vUS crude inventories rose 5.83 million barrels last week in an American Petroleum Institute report on Tuesday, people familiar with the data said. The Energy Information Administration will probably report that supplies ...

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• 1 February

  India’s Iran oil imports hit record high

  

    Bloomberg India’s annual oil imports from Iran surged to a record high in 2016 as some refiners resumed purchases after the lifting of sanctions against Tehran, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts. The sharp increase propelled Iran into fourth place among India’s suppliers in 2016, up from seventh position ...

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• 1 February

  India cuts taxes, aims to boost rural economy

  

    Bloomberg Prime Minister Narendra Modi offered tax cuts and boosted spending on some of India’s poorest citizens hurt by his cash ban as he seeks to shore up support before pivotal state elections. The budget shortfall is forecast to be 3.2 percent of gross domestic product in the year starting April 1, Finance Minister Arun Jaitley told lawmakers in ...

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• 1 February

  Japan utility taps burning wood against coal to beat climate crisis

  

    Bloomberg Japan’s biggest electricity wholesaler knows it’ll take more than cutting-edge coal technology to save the environment. Electric Power Development Co., known as J-Power, is looking to build its first major power plant that burns natural gas near cities such as Tokyo as well as use more woody biomass instead of fossil fuels, Executive Officer Hitoshi Kanno said. That’s ...

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• 1 February

  China’s factory PMI shows stabilization

    Bloomberg China’s official factory gauge started the new year on a robust note, giving policy makers a buffer to transition to neutral policy settings as they prepare for potential trade tensions with a Donald Trump-led White House. Manufacturing purchasing managers index was 51.3 in January, compared with a median estimate of 51.2 in a Bloomberg survey of economists and ...

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• 1 February

  India plans to create oil giant by merging state-run firms

  

    Bloomberg India is planning to create a state-owned oil giant through mergers to match the might of international companies and billionaire Mukesh Ambani’s Reliance Industries Ltd. “We see opportunities to strengthen our central public-sector enterprises through consolidation, mergers and acquisitions,” Finance Minister Arun Jaitley said in Parliament while presenting the federal budget for the year beginning April 1. “It ...

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• 1 February

  Specter of trade war looms as Trump puts ‘America first’

  

    Bloomberg World leaders aren’t taking Donald Trump’s trade barbs lying down. After the US president said Germany and Japan are gaming foreign-exchange markets to win favorable trade terms, Japanese Prime Minister Shinzo Abe joined German Chancellor Angela Merkel on Tuesday in pushing back and leading a global counter-charge to the accusations. “A massive clash is starting to emerge with ...

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• 1 February

  Apple weighs legal action on Trump’s ban

  

    Bloomberg Apple Inc. is considering taking legal action against an executive order signed by US President Donald Trump that halted entry by persons from seven predominantly Muslim countries, the Wall Street Journal reported, citing Chief Executive Officer Tim Cook as saying. America’s largest corporation will continue to press the White House to reverse the order, Cook told the newspaper ...

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